Budget deficit up rd EUR 231 million in Q1 2019, to rd EUR 1.15 billion

The execution of the general consolidated budget ended on first quarter of 2019 with rd EUR 1.15 billion (RON 5.5 billion), meaning 0.54pct of the gross domestic product, compared to a RON 4.46 billion deficit (0.48pct of the GDP) recorded in last year's similar period, according to data released on Thursday by the Public Finance Ministry (MFP). 

The revenues of the general consolidated budget were worth RON 74.7 billion, representing 7.3pct of the GDP, as compared to 7pct of the GDP in 2018. In percentages, the revenues were 12.5pct higher in nominal terms against the same period of 2018. 

Increases were recorded compared to Q1 2018 in the case of the collections from the insurance contributions (+21.9pct), excise duties (+16.8pct), VAT (+14.8pct). 

This year's state budget is built on an estimated budget deficit of 2.55pct of the GDP (cash) and 2.57pct of the GDP (ESA).